Atlanta Braves (NASDAQ:BATRK) EVP Sells $9,331,014.00 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) EVP Derek Schiller sold 175,395 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the sale, the executive vice president directly owned 316,908 shares of the company’s stock, valued at approximately $16,859,505.60. This represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Stock Performance

Shares of NASDAQ:BATRK opened at $52.03 on Friday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -51.51 and a beta of 0.65. Atlanta Braves Holdings, Inc. has a 1-year low of $37.76 and a 1-year high of $54.86. The company has a 50 day moving average price of $51.48 and a 200 day moving average price of $49.64.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.50). The firm had revenue of $305.12 million during the quarter, compared to analyst estimates of $319.00 million. On average, sell-side analysts expect that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on BATRK. Morgan Stanley downgraded Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, September 21st. Finally, Rosenblatt Securities reduced their price target on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Atlanta Braves has a consensus rating of “Hold” and an average price target of $63.50.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new position in Atlanta Braves during the 2nd quarter valued at about $281,000. Engineers Gate Manager LP purchased a new stake in shares of Atlanta Braves in the second quarter worth approximately $1,179,000. Squarepoint Ops LLC acquired a new stake in shares of Atlanta Braves during the second quarter worth approximately $529,000. Baird Financial Group Inc. acquired a new stake in shares of Atlanta Braves during the second quarter worth approximately $8,459,000. Finally, Arizona State Retirement System grew its position in Atlanta Braves by 2.8% during the second quarter. Arizona State Retirement System now owns 13,123 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 361 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization manages the team’s baseball operations, ticket sales, sponsorships, media and broadcasting activities, merchandise, and other commercial initiatives associated with the franchise.

The Braves play their home games at Truist Park in Cobb County, Georgia, which opened in 2017. The adjacent Battery Atlanta is a mixed-use development featuring restaurants, retail, office, hospitality, entertainment, and residential properties.